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Meaning of brand loyalty

 

 

 

Brand loyalty

 

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Business glossary

 

Meaning of term brand loyalty :

 

Brand loyalty is a situation where consumers stick with the purchase of their favourite brand of a particular good or service through choice as they prefer that particular brand. Consumers are therefore reluctant to switch consumption to another brand. The higher the level of brand loyalty, the more inelastic the demand for the good will be.

 

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